Ichor (NASDAQ:ICHR) Issues Earnings Results, Beats Expectations By $0.03 EPS

Ichor (NASDAQ:ICHR) announced its quarterly earnings results on Monday. The technology company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03, FiscalAI reports. The company had revenue of $294.78 million during the quarter, compared to analyst estimates of $300.17 million. Ichor had a negative return on equity of 1.10% and a negative net margin of 5.28%. Ichor updated its Q3 2026 guidance to 0.400-0.500 EPS.

Here are the key takeaways from Ichor’s conference call:

• Accelerating demand outlook: Management expects sequential revenue growth of more than 10% in both Q3 and Q4, with second-half revenue at least 25% above the first half and full-year 2026 growth of at least 30% versus 2025.
• Margin expansion is progressing: Q2 gross margin reached 14.1%, exceeding guidance, while management expects approximately 100 basis points of additional improvement in each of the next two quarters. The company also expressed increased confidence in a longer-term path toward 20% gross margins.
• Q3 guidance points to continued momentum: Revenue is forecast at $315 million to $345 million, representing 12% sequential growth at the midpoint, with non-GAAP EPS guided to $0.40-$0.50.
• Capacity and internal manufacturing are being expanded: Ichor said current capacity supports approximately $500 million in quarterly revenue and that targeted investments could raise annual capacity to roughly $3 billion. Proprietary content is expected to increase from about 25% currently to approximately 35% by the end of Q4, supporting margins and supply-chain flexibility.
• Growth is consuming cash and equity issuance diluted shareholders: Inventory investments contributed to operating cash flow of negative $15.9 million in Q2, with improvement not expected until the first half of 2027. The completed $200 million ATM offering also issued 2.48 million shares, increasing liquidity but adding dilution.

Ichor Stock Up 6.6%

Ichor stock traded up $4.96 during mid-day trading on Monday, hitting $80.23. The company had a trading volume of 1,424,773 shares, compared to its average volume of 1,050,145. The company has a current ratio of 2.82, a quick ratio of 1.21 and a debt-to-equity ratio of 0.17. The stock’s 50 day moving average price is $85.48 and its two-hundred day moving average price is $62.53. Ichor has a 12 month low of $13.12 and a 12 month high of $113.58. The company has a market capitalization of $2.80 billion, a PE ratio of -54.21 and a beta of 1.82.

Insider Activity

In other news, Director Jorge Titinger sold 4,000 shares of Ichor stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $64.21, for a total value of $256,840.00. Following the completion of the transaction, the director owned 12,318 shares of the company’s stock, valued at $790,938.78. The trade was a 24.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Laura A. Black sold 20,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $75.02, for a total transaction of $1,500,400.00. Following the completion of the transaction, the director owned 20,462 shares in the company, valued at approximately $1,535,059.24. The trade was a 49.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 79,447 shares of company stock valued at $5,678,621. 1.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ichor

A number of institutional investors have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC purchased a new position in Ichor in the 4th quarter worth approximately $26,000. Newbridge Financial Services Group Inc. purchased a new stake in Ichor during the 2nd quarter valued at $27,000. Danske Bank A S bought a new stake in shares of Ichor in the 3rd quarter worth $28,000. State of Wyoming raised its stake in shares of Ichor by 607.7% in the fourth quarter. State of Wyoming now owns 3,234 shares of the technology company’s stock worth $60,000 after purchasing an additional 2,777 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Ichor by 380.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,624 shares of the technology company’s stock worth $71,000 after purchasing an additional 2,870 shares during the last quarter. Hedge funds and other institutional investors own 94.81% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Needham & Company LLC upped their price objective on shares of Ichor from $48.00 to $72.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Stifel Nicolaus boosted their target price on shares of Ichor from $76.00 to $115.00 and gave the company a “buy” rating in a report on Friday, July 10th. Zacks Research downgraded shares of Ichor from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ichor in a research note on Wednesday, June 24th. Finally, Oppenheimer lifted their price target on shares of Ichor from $36.00 to $60.00 and gave the company a “market perform” rating in a research report on Tuesday, May 5th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $82.29.

About Ichor

Ichor Holdings Ltd. is a global supplier of critical subsystems used in the fabrication of semiconductor devices. The company specializes in the design, engineering and manufacturing of gas delivery systems, vacuum pumps and abatement solutions that manage process gases and by-products in wafer-processing tools. Its modular subsystems are designed to integrate with lithography, etch, deposition and cleaning equipment, helping to ensure precise control of gas flow, pressure and purity throughout the chip-manufacturing cycle.

Founded in the mid-1980s and headquartered in Fremont, California, Ichor has expanded its footprint across Asia, Europe and North America.